Investors Swipe Left on Match Group After Revenue Warning
Parent of Tinder and other dating apps sees sharp fall in after-hours trading following latest financial results.
Match Group, Inc. (MTCH) - Get Report shares fell $11.12 or 16% to $57.65 in after-hours action on a disappointing revenue forecast.
The company, which owns dating sites including Tindr, said it expects revenue in the current quarter of between $545 million and $555 million. Analysts surveyed by FactSet had been looking for $559.1 million.
The forecast overshadowed better-than-expected numbers for the just completed quarter.
Match Group said earnings rose to $151.5 million, or 51 cents a share vs. expectations of $137.1 million, or 44 cents a share.
Sales came in at $541.5 million, ahead of analyst projections of $540.7 million.
